Week 21

I’m over a week late with this post, so I best start by way of explanation, as things will be a little confusing if I don’t. This post is for the week of the 22nd-28th July, and so this update should have gone out on Monday 29th. The update for the week just gone will be posted tomorrow. Are you all still with me?

So, why have I been slacking so severely. Well I was away on holiday for the last week, and I did sit down to try to get this post written several times, but never seemed to get too far before something pulled me away. But more about last weeks holiday tomorrow, as that is concerning week 22, and here we are discussing the week before I went away, week 21… confusing right? Guess this is why I should make sure I post on time!

Trying to make a career of market research isn’t advised, even for wizards…

So, on to what did happen in week 21. It was a solid week again. Nothing outstanding but definitely steady. A large chunk of this weeks total came from the Market Research which I wrote about earlier in the week. Aside from my outrageous roulette streaks, I believe this is my single highest paid hour of work so far. The problem is that it is very sporadic work so is a pleasant anomaly rather than a permanent boost. However, I should point out that while regular, ongoing income is one of my main aims at the moment, one-off opportunities like this are still important. Granted, this particular opportunity may only come about one once or twice a year, but there are plenty of other one-off earning opportunities that can be done, and neglecting them would mean missing out on large amounts of potential income.

Aside from that big income source, the majority of the remainder of my earnings came from dog walking. This continues to be a decent source of regular income, but I would like to start expanding it soon, and am looking at various ways to do so. The other sources of income are fairly usual ones and as such don’t really require much comment from me.

One thing that concerns me slightly is the low number of income sources this week. Don’t get me wrong, it’s not all about the quantity, and if I found one thing that was bringing in big money, I would happily focus on that without being too concerned other sources weren’t present. However, previous weeks have seen far more sources than this one, and having multiple sources not only means more income, but spreads risk and provides a wider range of options when considering different ideas and strategies. Perhaps it is just a one off, but this is something I would like to try and address.

In Summary:

A solid if unspectacular week. A big one-off income helped significantly, but the effort put into getting some dog walking is certainly paying off now. Looking for ways to expand or increase the efficiency of dog walking has to be a priority now given that it is my highest source of regular income, so this is something I will be exploring.

The Week Ahead:

Passive income is as close as you’re likely to get to a money tree

You will already have a fairly good indication of what the week ahead holds, given that I started this post by talking about it. And also that confusingly, the week ahead in this instance is actually the week just gone. However, there is still something to say about it. Week 22 will be very interesting as it will be the first week of this project that I have been away, and will have done no work during. As such, whatever is earned during the week will be entirely passive income. This figure will give an indication as to how far I’ve come, and indeed would show what I could expect to still go on earning each week if I decided to pack it all in and hang up my boots. I have no intention of doing so, but I am interested to know nonetheless.

As I already know what happened in week 22, making a target would be entirely redundant, so I will leave it at that and remind you to be sure to check back tomorrow to read my update for week 22. It will be a short, but very interesting post in which we will discover where my passive income level currently lies, and what this means for the future.

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About Me

The man behind the shoestring. Follow my progress as I seek to turn a tenner into my years salary. I aim to show that it's possible to become freed from the 9-5 and achieve financial freedom. Read More »